Zoom Video Communications, Inc. (NASDAQ:ZM) Director Sells $2,008,250.00 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) Director Jonathan Chadwick sold 25,000 shares of Zoom Video Communications stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $80.33, for a total transaction of $2,008,250.00. Following the transaction, the director now directly owns 1,514 shares in the company, valued at $121,619.62. This trade represents a 94.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Jonathan Chadwick also recently made the following trade(s):

• On Tuesday, October 29th, Jonathan Chadwick sold 12,500 shares of Zoom Video Communications stock. The stock was sold at an average price of $75.04, for a total transaction of $938,000.00.

Zoom Video Communications Stock Down 1.7 %

Shares of Zoom Video Communications stock opened at $78.07 on Monday. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80. The company has a 50 day moving average of $82.98 and a 200 day moving average of $71.73. The company has a market capitalization of $23.93 billion, a P/E ratio of 26.02, a P/E/G ratio of 4.97 and a beta of -0.01.

Hedge Funds Weigh In On Zoom Video Communications

A number of institutional investors and hedge funds have recently modified their holdings of the company. Choreo LLC purchased a new stake in Zoom Video Communications during the second quarter worth approximately $200,000. American Century Companies Inc. lifted its position in shares of Zoom Video Communications by 8.8% during the 2nd quarter. American Century Companies Inc. now owns 69,491 shares of the company’s stock worth $4,113,000 after buying an additional 5,598 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Zoom Video Communications by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,365,705 shares of the company’s stock valued at $80,827,000 after buying an additional 264,217 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Zoom Video Communications in the 2nd quarter valued at $1,050,000. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Zoom Video Communications by 40.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,213 shares of the company’s stock worth $591,000 after acquiring an additional 2,955 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analysts Set New Price Targets

ZM has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Benchmark raised their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Zoom Video Communications in a research report on Tuesday, November 26th. Cantor Fitzgerald started coverage on shares of Zoom Video Communications in a research note on Friday. They set a “neutral” rating and a $87.00 target price for the company. Finally, Wedbush began coverage on shares of Zoom Video Communications in a report on Thursday, October 17th. They issued an “outperform” rating and a $85.00 price objective on the stock. Sixteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $89.10.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.